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. president obama seems very conflicted about what to do, and i'm not sure i can really blame him, but more and more cities and states are blaming obama care for cutting their government worker jobs and work hours. this ill-advised health care law is likely to cut more private sector jobs than the budget-cutting sequester. all of that and more coming up on "the kudlow report" coming up right now. ♪ ♪ ♪ >>> first up tonight's speaker of the house john boehner says republicans will not shut down the government over obama care. cnbc's john harwood has that story for us. good evening, john. >> reporter: congress returns in just over two weeks to a huge fight over government spending and debt. with no agreement in sight between the white house and congressional republicans, both sides are trying to prepare the ground for the battle and the economic bus tour president obama today tried to rally public opinion against a possibility of a government shutdown aimed at his health care law. most recently there's been threats that we would shut down the government unless we agreed to roll back the
? i think bad numbers and bad policies are sinking that scenario. former obama adviser austan goolsbee is going to defend his man, but wisconsin governor scott walker will be here and take goolsbee to the woodshed. also, is obama man larry summers really jacking up on rates and knocking down stock prices? will he really be a tighter-fisted fed chairman than janet yellin? the markets seem to think so. but wasn't summers the big trillion-dollar stimulus spending guy in obama's first term? and speaking of fears, has team obama totally botched the egypt situation? there can be no compromise here, folks. american interests lie with the egyptian army, not with the radical and terrorist muslim brotherhood. all those stories and much more coming up this evening on "the kudlow report." beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." first up tonight, after delivering a number of economic growth speeches this summer, president obama has still failed to provide any economic growth message. in fact, the tax, spend, and mandate obama care plan is a hu
secretary jack lew on cnbc this morning said president obama will not negotiate over the debt ceiling bill and now it looks like a battle royal is brewing in washington, d.c. these stories and many more coming up in "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." in a major developing story, nbc news is reporting a strike against syria could come as early as thursday. aids say president obama and no longer questions if the syrian government used chemical weapons. the questions are what will the u.s. do and with who's help. nbc's richard engel joins us now from the turkey/syria border with all the latest details. good evening, richard. >> reporter: larry, syria is showing no signs by being deterred of all of this talk of military action. in fact, just yesterday there was another attack that rebels say used chemical agents. a white phosphorous attack that doctors say killed at least 12 people. white phosphorous technically isn't a chemical weapon, but it is illegal if it's used to kill people. it's a burning agent, a burning
this year, according to the household survey, and barely 170,000 full-time jobs. so what obama care and the weak economy have done is shift employment into bottom of the barrel low wage part-time employment so the claims are low because there are tons of part-time jobs out there -- >> the data point we got today that looked so good isn't so good. >> because the world has changed around us, thanks to the obama administration and other structural weaknesses. that's why walmart and macy's are showing such rotten results. the consumer's very weak even though we are seeing a lot of employment because it's extremely low grade employment. you can't have a consumer boom without macy's and walmart participating. you can't have a capital spending improvement without cisco improving. we still have an extremely weak economy, very poor revenues in the s & p, very weak profit growth and the likelihood -- >> why is the fed talking about taking their foot off the pedal? >> as greenspan said, you have to taper at some point, whether or not the economy is strong or not. you can't keep up this bond bu
secretary kerry talk. let me give you key point from president obama. i think this is the key statement he made. he has not made a final decision on actions that will be taken. that was, again, on remarks he made just a few moments ago. take a look at dow jones industrial average. there wasn't a lot of reaction there but that's because a lot of the stance he said was in secretary kerry's remark he had made in the final hour just before him. you see the dow fluttering around and that's because of what secretary kerry said. secretary kerry's speech was aggressive and restrainerestrai. he comes out agrss ive saying u.n. cannot gavel niz the world to act. then towards the end of his speech he becomes a little more, shall we say, restrained. the mal market rallies as he says the response from the u.s. will be limited and tailored, it will not involve any boots on the ground and the primary objective is to have a diplomatic process. which is what a lot of people are hoping for. interestingly today we have seen the markets hit the most act a little better. i'm talking about emerging markets which
another gas attack. >> and you find low public support, you find low congressional support. and obama is going to need to contend with. there hasn't been a clear articulation of what we're going to achieve and how we're going to do it. i think once someone stands up and does that, then you can test the support that you'll get. >> michael, thanks for that reasoned analysis. we appreciate it. getting up early, though he's on the east coast. >> thank you. >> that was most recent analysis i've heard in a long time about having an objective as opposed to just sending a signal. >> largely symbolic. >> it feels like we have been forced into it. we'll have mccain on. he's railing against general dempsey, who says, you know, said let's show much reticence to do anything that it emboldens -- in his view, emboldened these guys. all right, coming up, how twitter is learning from some of facebook's ipo mistakes. first, as we head to break, let's check on the national forecast with the weather channel's alex wallace. >> good morning to you. good morning, we're tracking some showers moving from the
obama talking about what is probably your biggest investment today, your house. what he's saying and the changes that could be in the works for the housing market. he talked a little bit about it yesterday in a big speech in phoenix. today answering questions about housing, and a brand new list. we love lists, goldman sachs sending out a note of what it calls the 40 cheapest stocks in the market. can they make you money? well, we're going to give you the list throughout our show today. first though, down to sue, nyse. hi, sue. >> hi, ty. right now the markets are falling a little bit, not all that much, but it's the third straight day to the downside. right now the dow jones industrial average is down 47 points. the s&p 500 is off about 6.25, and the nasdaq off 16 and the russell 2000 off 7.5. in terms of interest rates, we actually moved down a little bit on the interest rate earlier this morning, and we're at 2.61%. comex gold is snapping its losing streak, up about two bucks on the trading session and brent crude is down half a percent. kenny polcari a cbs analyst joins me as
, and the obama administration saying it is ready to act in syria if needed. secretary jack lew on squawk saying moments ago the president will not negotiate over the debt ceiling. >>> good news for tiffany, and luxury, in that it was boosted by sales in china. >>> and the end of the era, bill ackman is bailing on jcpenney, and they are looki in ing to ses shares. >> and we will look at the new home sales to be released. >>> treasury secretary jack lew telling our own john harwood that the president will not e negotiate over the debt limit which could be reached in mid-octob mid-october. take a listen. >> we won't be negotiating over the debt ceiling and congress has authorized funding and committed to expenditures and now the question is do we pay the bills that the united states has incurred. it is the only way for that to do is for congress the act and act quickly. what we need in the economy is certainlity, and we don't need a self-inflicted wound or crisis at the last minute. congress should come back, and they should act. >> jim, they say when it rains, it pours and government is part of t
the u.s. would have to go it alone at this point if president obama wants to take action. the threat of that right now seems to be lessening a little bit. plus, of course, it is a friday before a holiday weekend so things are going to typically be quiet here. traders say before everybody gets back next week and the news flow really starts again. now, what's interesting though is we are seeing a little bit of a shift. the positive data out of the united states. that gdp number is keeping the dollar near a four-week high against the major currencies. of course, we are watching gold prices while we are under 1400, that critical level still hasn't been a bad month for gold. the second b consecutive month that we are going to see a gain for it. kelly, back to you. >> all right, jackie. thanks very much for that. >>> straight ahead, big lots seeing some big gains this week and spiking after reporting earnings are the big box retailers the best way to play retail? we'll talk about that. >>> plus, the government says it will not stop people in colorado and washington from smoking pot. we'll
, president obama returns from vacation and plans to sit down with the leading financial market regulators today. opinions from both sides of the aisle next. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. pcentury link provides reliable yit services like multi-layered security solution to keep your information safe & secure. century link. your link with what's next. >>> welcome back to "squawk box." president obama will be sitting down with the leading financial market regulators today to discuss their progress or lack of progress in implementing dodd/frank. joining us to talk about it, tony frato and jerod bernstein. hi, guys. >> hi, andrew. >> before we even go there, i have a joe question for jerod. i don't know if you heard u
by obama just a couple days after the jackson hole meeting here. but there is uncertainty over fed policy. there's a certainty over leadership and economic growth. all those things loom large here. and will be spending the next couple of days trying to figure out if we can get some guidance over where the fed is going here. the absence of a definitive statement by the fed chairman will have to mean another time to happen, simon. >> this is of their own making. the problem with nailing your colors to the mass with forward guidance is it doesn't work if you don't know where you're going to guide people to. if you're split or indecisive. that surely, steve, is what is happening here. they raise the question of tapering. you get the interest rates rising. you feel the pain around the world. but when you actually get to tapering you're not sure if the growth is going to be strong enough because you're not really sure if the fed has the courage of conviction at all. the market will find it very difficult to rally on it. >> you know, i like that analysis, simon, because you're right. you hitch y
of some u.s. embassies amid what the obama administration calls serious and credible threats by al qaeda. diplomatic facilities will remain closed in many of the countries you see right there throughout the middle east and africa until at least august 10th. >>> the global travel alert coming at the same time as a global travel conference is taking place in san diego. jane wells is there live. jane, how is the global industry taking all this in? >> well, they are sort of processing it today, this is the global business travel association meeting, 400 companies and 7,000 people, all of whom are getting used to traveling in a more dangerous world. >> business travelers have become much more accustomed to it, and in a global economy you know that you do have a higher risk profile than maybe in years past, but it's a fact of life, and we all deal with it. >> so he says companies are detailing products which help you track and redirect traveling employees to safety concur which manages travel bookings and expenses for companies and report a 23% revenue growth last week. it's introducing a new
to have these conversations in the days ahead. president obama has also been in close touch with leaders of our key allies and the president will be making an informed decision about how to respond to this indiscriminate use of chemical weapons. but make no mistake. president obama believes there must be accountability for those who would use the world's most heinous weapons against the world's most vulnerable people. nothing today is more serious and nothing is receiving more serious scrutiny. thank you. >> secretary of state kerry there with a forceful response to sir why's use of chemical weapons. the united states says it has undeniable evidence that it was used on citizens last week and the secretary pointed out that he had reviewed video from the aftermath of that attack last week and was struck as a human being and as a father by the video, mandy, of that father holding his young, dead child as a result of that attack. we welcome you now to "closing bell" for cnbc. >> we were just listening, of course, as secretary of state kerry and, you know, bill, it was heart wrenching, sol of
will we do? let me emphasize, president obama, we in the united states, we believe in the united nations, and we have great respect for the brave inspectors who endured regime gunfire and obstructions to their investigation, but as ban ki-moon, the secretary-general has said again and again, the u.n. investigation will not affirm would used these chemical weapons. that is not the mandate of the u.n. investigation. they will only affirm whether such weapons were used. by the definition of their own mandate, the u.n. can't tell us anything that we haven't shared with you this afternoon or that we don't already know, and because of the guaranteed russian obstructionism of any action through the u.n. security council, the u.n. cannot galvanize the world to act as it should, so let me be clear. we will continue talking to the congress, talking to our allies and most importantly talking to the american people. president obama will ensure that the united states of america makes its own decisions based on our values and interests and on its own time line. we know after a decade of conflict the a
obama and his national security team laid out their case for action against syria in a conference call with lawmakers. but here's where things get complicated. the british parliament voted down a strike and israel says it is unlikely to join as well. but france's president says his country can go ahead with plans to strike syria. all this is roiling the markets. oil dropping on news of the british vote late yesterday and you can see right there, things are slightly down this morning, but it is all quite marginal for now. but i'm still -- i'm still trying to understand what we as the u.s. are now supposed to do with all this given what is going on internationally. >> i think about it a lot. i never come up with any answers. it is like i'm debating myself. i feel like i could do a good job on both sides of the debate, which shows you that it is a quandary for anyone trying to deal with it. i got to say, i don't -- i feel a little bit of empathy for the president on this. even though i don't -- i think we put ourselves in this position. >> we put ourselves in a box. everybody agrees we pu
's justice department and the obama administration have taken heat for the lack of high level prosecutions over the meltdown in 2008. there haven't been cases but the record is mixed. in 2009 two hedge understood managers beat fraud charges. that was a setback. better luck when a cup of traders pleaded guilty and a third this year. lots of action on the civil side. the new york attorney general working with the doj sued jpmorgan and sued bank of america and standard & poor's among others. we know there is a push from high up in the justice department to move other crisis cases along. no specifics from holder other than we're not done yet. >> you know, it's interesting, scott, that this stuff is just starting to bubble to the surface even though the 5-year statute of limitations is approaching. when i was looking at some of the bank quarterly filingses a couple weeks ago they did start to disclose the doj is investigating us for mortgage-backed security cases. almost every bank in the mortgage market disclosed that. when i talk to people they said that was because at the staff level the ban
's start with the biggie. >>> the obama administration now warning of a mid-october default deadline. treasury secretary jack lew saying that the government is going to exhaust its borrowing capacity at that point, and then it would be left with about $50 billion of cash on hand. he warns that amount could conceivably be wiped out in one single day. our own john harwood's going to be sitting down with the treasury secretary for an exclusive interview and we're going to have that and bring it to you at 7:30 a.m. eastern time. >>> in other washington news, the white house preparing to release intelligence evidence alleging the use of chemical weapons by syria. secretary of state john kerry called last week's attack a "moral obscenity," and he's laid out the case for a u.s. military response. >> anyone who could claim that an attack of this staggering scale could be contrived or fabricated needs to check their conscience and their own moral compass. what is before us today is real, and it is compelling. so, i also want to underscore that while investigators are gathering additional evid
on now to major news, president obama making a statement moment ace go on egypt. he said the u.s. will cancel joint military exercises with egypt. to help us understand this, john harwood joins us live now from washington with more. john? >> kelly, it was a minimalist response by the president. you had some people including former advisers of his own saying that the united states should suspend or cut off military aid to the egyptian government. the president did not do that. he said that they were going to cancel those bright star military exercises scheduled for next month and continue to consult with his national security team on other steps. what he was trying to do was signal united states concern but not do anything to significantly weaken the relationship between the united states and the egyptian military. there will be more pressure if the violence continues. for now, this is all the president is doing. >> it's a dangerous position, though, john, that they find themselves in. on the one hand condemning the violence but on the other refusing to support the regime. i it'
, and that is what some would like. how do you feel about that? are you in support of obama's request to congress to move the national minimum wage or the federal minimum wage from $7.25 to $9? >> well, the most important thing we can do right now is to create all jobs and that helphe everybody. we want to create jobs and we have been in that since the recession starting to recover and we are partnering with wa walmart, and dozens of ceos and governors and so creating jobs is critical, but the question is what is the right way to do it? is the right way to do it by choosing between hiring fewer people at higher wages or greater number of peoples at competitive wages that the marketplace will support, and that is really the conversation that we need to have. what's in the best interest of the local communities and workers and we take the view that it is better to be encouraging business growth and development by reducing and eliminating the regulations, and not layering the regulation on the employers and create jobs in all sectors the get the economy move f moving forward again. >> so do you supp
. so i think there will be more. >> okay. lovely. who knows. >> in washington news, president obama travels to arizona today to talk housing. he'll propose overhauling the nation's mortgage finance system by winding down fannie and freddie. the president will also renew a push to make it easier for home owners to refinance their loans at lower rates. we'll talk to housing and urban development secretary shaun donovan at 7:30 a.m. eastern time. speaking of real estate, credit reporting agency transunion says home owners were doing a better job of making timely mortgage payments. the national late payment rate on home loans fell to the lowest level in five years in the second quarter at 4.1%. new york's financial regulator is joining an effort to crack down on a loophole that lets online lenders offer short-term loans at interest rates that exceed 500% annually. new york times reporting the regulators sent letters to 35 online lenders instructing them to cease and desist from offering loans that violate local usury laws. >>> in global news, australia's central bank cut its key interes
, and how do you prevent that from an open-ended involvement in a war that clearly president obama and the united states military does not want to get involved with in a deep way. >> the public apparently has no appetite for any other conflict? russia immediately said, you know, don't -- you people don't need another adventure in the middle east like iraq and iran. obviously saying the same thing. it's really tough. it's really tough for the president to try to walk. >> reporter: it's more than tough. and you saw assad in an interview with a russian newspaper yesterday saying -- warning the united states that you get involved again, there's going to be a failure like all your interventions in the past. clearly the lessons of long and protracted wars have weighed heavily on the president. this is a president, after all, who got into politics, opposing the iraq war. says he doesn't oppose all war, but he opposes dumb wars, and it's pretty clear from his language and body language and the entire stance of the united states over the last several months that he believes it would be dumb
a roundup of some of the top stories. the obama administration has overturn add u.s. trade panel's ban on the sale of some older iphones and ipads. this move reverses a ruling that had favored samsung over apple in that long running patent battle. the u.s. trade representative says that the decision was based in part on the effect of the competitive conditions in the u.s. economy and the effect on u.s. consumers. this is big news, though. shares of samsung were actually down overnight. just about 1%. apple shares, if you want to take a look at where things stand at least right now, up just barely. again, this is some pretty significant news. we will continue to watch those stocks today. >>> also, the london metal exchange and goldman sachs are being sued over alleged anti-competitive and monopolistic behavior when it comes to aluminum storage. the lme's owner says it will fight the class action lawsuit. we have been talking in recent weeks about this. wall street banks facing increased scrutiny in their involvement in the business for storing and transporting commodities like oil and a
with samsung. the obama administration vetoing a ban on apple products. share of samsung are falling in asia. >> tv blackout, battle between time warner cable and cbs show nothing signs of letting up. >>> the terror threat overseas. many u.s. embassies stay closed now until august 10th. a live report from nbc's pete williams. >>> first up, if you didn't see it, u.s. equity funds saw a record inflow in july. according to trim tabs funds saw $40.3 billion coming in last month while bond funds saw the fourth highest outflow on record. david seeburg at cowan. good monday morning to you. >> good morning. >> david, is this the beginning of something new? >> it seems to be. i mean, $40 billion in july, amazing. still a ton of cash on the sidelines. there's about $9.5 trillion in xhrgs bank deposit and money mark accounts, companies obviously corporate balance sheets reflecting cash. m&a starting to pick up it's the beginning of a rotation that we expect to take equities higher. >> peter, how do you read things here. >> s&p gone from 666 to 1700 without the retail investor. retail money's coming in,
.s. treasury. president obama is calling for both lenders to be shut down. diana olick joins us now from washington to explain why. morning, diana. >> good morning. and, you know, profitability just has nothing to do with it in the eyes of the obama administration. both fannie and freddie reporting big earnings, profits, yet they're still held to blame for much of the housing crash. >> for too long these companies were allowed to make huge profits buying mortgages knowing that if their bets went bad, taxpayers would be left holding the bag. it was heads we win, tails, you lose. and it was wrong. >> that was then and this is now. fannie mae reporting net income of $10.1 billion and paying the treasury $10.2 billion in dividends. that brings the total to $105 billion paid to uncle sam which bailed out fannie mae in 2009 buying $117 billion in senior preferred shares of stock. these dividend payments though do not go to pay back that bailout. treasury still owns that stock. and on the conference call this morning, fannie mae's ceo said that profitability should not slow the appropriate deba
this is a conspiracy between me and president obama or i was soliciting money from people who had some affiliation with him. the documentary evidence is overwhelming. he committed fraud on an ongoing basis. he fleeced people who couldn't afford the money out of $40 million. maybe the most despicable thing his instructors told students, you have to raise your credit limits. call your credit card companies, get more credit if you want to succeed in real estate and folks used that increased limit to pay more money to trump and went further into debt. despicable scheme and he's going to pay for it now. >> any other name than trump, this story doesn't get any pick-up, nobody notices it. to those who say it's an opportunity for you to increase your public profile and that of your office, how do you respond? >> i'm responding to him. i mean he went in the newspapers on saturday and started talking about it. and making crazy accusations against me. so, we're not going to sit down and let him make fall accusations and lie what the case is about. this is a classic bait and switch scheme. you have to sent a
notes, you said a missile attack would only make president obama look weaker. why? >> if it's just a missile attack to signal open session to chemical weapons and assad goes ahead with future chemical weapons attacks, then that makes the u.s. look irrelevant. so it has to be strong enough to deter a future use, strong enough to send a signal not only to damascus but to iran that red lines, once they're made and, you know, we can discuss the wisdom of making a red line before you no ewhat you will do to enforce it, but once the red lean is out there, it's important not only in terms of the syrian crisis but in terms of the looming iran nuclear standoff. >> so what are you advocating exactly then? if missiles are not going to be strong enough, what would be? >> i think it has to be, well, the administration has boxed itself in on this attack. but this attack only makes sense if it's a part of a broader strategy to act sell rate the fall of assad, to strengthen moderate opposition groups within the opposition coalition, because it doesn't make sense to overthrow assad if al qaeda affi
of touch screens. now, president obama has 60 days to review this decision. if he doesn't veto the order, it will go into effect. and if you remember, he vetoed the order when it came to apple. we will see what happens when it comes to samsung. becky? >>> we do have more boardroom drama at jc penney today. "the wall street journal" reports the board met late yesterday afternoon to talk about their next move. the directors are looking at ways to remove bill ackman from the board. the article also notes that it's questionable whether ackman has violated his duties as a board member. there may be a de facto board that excludes ackman. scott, i'm glad you're here for this discussion because this has gotten weirder and weirder. >> it has indeed. >> i thought it was bizarre when we first heard about what was happening. because as a board member, you wonder if he'll be operating from the inside or outside. this is more typical of an outside activist shareholder thing. charles nelson in this "journal" article raises questions whether he did anything wrong at all. he says it would be really diffi
the obama tax rates which could be pushing them up into a 50% bracket which lends you to see a taxable equivalent yield of 9% to 9.2%. that's a lot to pass up for an investor who is getting asurety of that return. >> talking about the search for yield and reach for yield, but we tend to think of it strictly in terms of the equity markets, not muni bonds as much as we did, say a year ago. >> it's easy owe make will call because munis got hurt on the detroit concern. is that an issue we'll see further problems with other municipalities down the road? >> that's a great point, bob. i think you'll see more complicated issues per state, but those are the ones where, you know, a good portfolio manager is going to look and say what are the revenues and tax revenues that will always be there? we'll be in our cars and rvs passing through turn pikes. >> you betcha. >> but it's an important point, and also to your point about china just getting back to the global markets. you're looking at a pe ratio going forward in the capital markets in europe about 12 to 13 times versus the united states which
-house computer. >> interrupt your job again. >>> it's been three years since president obama signed the dodd-frank financial reform bill into law. the president hat gotten back from his vacation and immediately met with regulators today to push to speed things up. john harwood at the white house with the details. john, what can you tell us? >> reporter: maria, the meeting just broke up, it lasted over an hour. i spoke with mary jo white, gary gensler, as they walked down the white house driveway out of the complex. their description matched what the administration had said going in. it was a pep rally by the president to encourage regulators to finish the work. fewer than half of all of the regulations have been drafted. mary jo white said top priority is the volcker rule. this is just one of the elements on the president's economic agenda this week. he's also going to be giving speeches in upstate new york later in the week to push his vision of a middle-out economic growth agenda. and the president also, of course, is going to be working on the selection of the next fed chairman. ben berna
of obama care exchanges. in an interview last night, wisconsin governor scott walker warned employers can't afford the uncertainty of the affordable care act. >> we need certainty. the fact is, employers aren't seeing it. the political pressure they push back on the employer mandate, but there is incredible uncertainty about the so-called affordable care act. i visit the firms, the companies, small businesses, we don't know what is going to happen next. we're not going to take the risk, even though we have the potential to grow our economy, we have the customer base that wants us to produce more, we're reluctant to go over the 50 mark, the full-time rate. >> where does this all go next? >> for someone to say there is uncertainty in obama care, that is not the lead, obviously. you'll hear things like that from scott. the two aspects is one, yesterday, the president, up with of his hometown papers in chicago, the tribune said, bottom line, in an editorial, bottom line, let's delay and rewrite this ill conceived law, three years of attempting but failing to make this clumsy monstrosity work
obama's tax hikes on the rich will hurt the middle class and the poor by killing jobs. it was a controversy -- controversial op ed, and now rodgers is here to explain it in person. that's coming up on the "closing bell." stay tuned. make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today. so you want to drive more safely? of smart. stop eating. take deep breaths. avoid bad weather. [ whispers ] get eight hours. ♪ [ shouts over music ] turn it down! and, of course, talk to farmers. hi. hi. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum ♪ right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a b
this is proof that their people have been attacked by chemical weapons. does this mean team obama will have to put up or shut up because of the so-called red line? that story and more coming up on "kudlow." [ male announcer ] come to the golden opportunity sales event and experience the connectivity of the available lexus enform, including the es and rx. ♪ this is the pursuit of perfection. ♪ a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. i put in the hourswhere i am today by luck. and built a strong reputation in the industry. i set goals and worked hard to meet them. i've made my success happen. so when it comes to my investments, i'm supposed to just hand it over to a broker and back away? that's not gonna happen. avo: when you work with a schwab financial consulta
it invests money from your insurance premium. both are going up. despite president obama's suggestion that health care costs are going down, cigna has been able to get higher prices for its health insurance. ever higher prices. at the same time it has a major exposure to real estate. those seem to be getting better and better and better after taking a beating for a long time. then there's cabot oil & gas. one of the fastest growing oil and gas names in the world. cabot has a new market in new england, rapidly changing heating to cheap natural gas that will be from cabot when it gets its pipeline built. how about amgen. all time high. acquiring onyx pharma. a fresh growth injection. this combination gives amgen a fast-growing -- and once again amgen, remember, has now become a growth stock. that's exactly how -- the best bang for shareholders' bucks. lockheed martin finds itself on the all-time high list by default. supposed to be decked by the sequester. wasn't the sequester supposed to shoot them to kingdom come? they weren't. that fact has deluded and shocked wall street, which has
and the world are awaiting president obama's decision on what action he may tay in the light of syria using kem rchemical weapons. with the military so stretched, what are the president's options here? we have a rundown of what the military's resources are in the region. hi, jim. >> hi, kelly. appears the markets are making more of this than the white house and u.s. military officials. they say that any strikes against syrian targets would be limited. right now, they're only looking at four guided missile destroyers that are currently in the eastern med. and possibly two submarines. one u.s. and one british. that would launch cruise missiles at a select, limited number of targets in syria, that are related to the release of chemical weapons against the syrian civilians there, just a couple of weeks ago. now, according to officials, jay carney at the white house, the white house spokesman said, regime targets are not on the target list. there is no attempt to overthrow the syrian regime, and a short time ago, british prime minister cameron said that any response from the international community
and the health care worries and back and forth on the taxes and obama wants more and we are tapering. perfect. just great. >> well, things could be worse -- you could be in india and watching the currency decline by 4% per day. >> you could be in indonesia and watching a similarly currency going down. >> the rupee. >> yes. and that is a fact. >> and the fact is that the dollar buys more rupees than you can see, whoa! any time a major currency moves almost 4% in a day, this is of course, the impact that you would expect of making indian exports cheaper which will benefit us, but a consumer-led economy there where they are trying to bring it in is complicated and then bring in a lot of goods and send them in and back out, and the equity markets there have not been performing well. >> and you are, we have not talked enough about the merging markets. >> well, they have been crushed. when you talked about the taper talk or the okay, what happens when, and forget about when qe ends, because it is not that the merging markets will take et the worst, because all they are built on is cheap money, and
american citizens not to travel to pakistan. meantime, president obama will hold a news conference this afternoon at the white house before leaving for vacation on martha's vineyard. andrew? >> we got a couple of corporate stories to talk about. big one, the jpmorgan now reportedly close to reaching a settlement with security regulators over the so-called london whale trading losses. bruno iksil, he was the whale in some ways, he's not expected to face charges related to the incident. apparently, by the way, he's talking and made some kind of deal or may be making a deal with the s.e.c. the other component of this is that as part of whatever settlement the s.e.c. reaches with jpmorgan, they might have to admit some form of wrongdoing or some form of admission -- >> why would the s.e.c. cut a deal with that guy when he was the rogue trader doing things that the management at the bank -- >> unclear he was the rogue trader. it seems like what has happened is as the story developed that his boss and his boss' boss may have been more rogue than he was. not iona drew. >> a few layers --
have a double whammy for home building stocks. last week president obama came out gave a speech on fannie and freddie arguing they ought to be wound down and replaced by another agency. you saw what happened on that, david, home building stocks went through the floor last week tuesday and wednesday. so now we have a double whammy, the concern about higher rates and concerns about less government support overall. that's a real problem. and the itb, the main etf for the home building industry hit a new low for the year, but it wasn't on the rates, it was on concern about fannie and freddie and the lack of support there for the mortgage market. guys, back to you. >> thanks very much, bob. that's still to come. fannie and freddie. that will be a long -- >> begin today just a football security. don't know what's going to happen. >> even the preferreds are a real risk. time for a little bit of a faber report following up on a story here. our viewers have been covering mergers and acquisitions for a long time. but rare indeed when you see a consent solicitation of the shareholders for
the violence from escalating, which is why we had the statements from u.s. president barack obama, but the response from the egyptian government to what the president was saying has been a terse one. basically saying it is not based on fact, and it is actually encouraging armed groups. you imagine that kind of response from the egyptian presidency to what the u.s. presidency is saying. that shows you as well that there are a lot of tensions internationally as well about what is happening here on the ground. >> incredibly concerning situation. yousuf, please be careful and we will check back in with you later this morning. yousuf gamal el-din. >>> oil prices have been moving on the situation over in egypt. traders fear the unrest could filter over to crude producing nations or affect the suez canal which carries a large portion of the world's oil. analysts say worries the fed could soon trim the commodity friendly stimulus are curbing gains. >>> gold extending gains today hitting two-month highs. among the catalysts, strong buy from china and short recovering after the precious met
" top spot making $25 million. >>> president obama in washington after a vacation at martha's vineyard. he's got his work cut out for him. egypt, regulation and funding the government. john harwood joins us with the latest. what's top priority? >> top priority for the president that is meeting with financial regular laters. he returned from martha's vineyard to a vacation buffeted by the conflict in egypt and other things that are pressing on a national security basis, more revelations about the nsa as well. he's got a very economic, heavy agenda as he comes to back to washington. congress is still out. he meets with the whole array across the government of regulators about trying to keep pace with implementation of dodd/frank, only 40% of the regulations are done. volcker rule is most important, trying to get that done by the end of the year. the president has also got speeches in upstate new york to press his agenda for a middle out economy. that is not likely to go too far with republicans but he's trying to soften up the ground for the fiscal debates this fall. the president has th
to work. >> you pass laws that make it more expensive to hire like obama care or raise the minimum wage, that hurts young people dramatically. >> simple cause and effect for how it is happening. people at the high end are hogging more of the overall income, that's not simple enough to explain what is happening here. >> i wouldn't dissuade you of that view. we talk about minimum wage. you don't necessary necessarily think that's t think that's wait to go either. >> this is why the huffington post writes about you, from a negative. you do sound reasonable at times. >> i can't -- >> not all the time. no. not under any means, but okay. >> coming up, why the markets were so confused by yesterday's fed minutes. did you see the intraday chart from yesterday? up, down, all over the place, crazy. what you should expect in today's session. "squawk box" will be right back. i hav e low testosterone. there, i said it. see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it
a lot of dough, the president, current president, president barack obama, ramped it up. there was no chirping then. i didn't hear chirping going we're going to hit $16 trillion at midnight, let's party! no. but the effects of less government spending definitely going to slow things down because you're not paying for it but it's a good thing. somebody broke the silence, i think it was bank of america, victoria mcgrain from "wall street journal" wrote a piece on wall street journal.com and it talks about the agenda for jackson hole. it's august 22nd to 24th. think about what i was saying. wouldn't it be nice if central bankers got together and tried to really figure out how to solve some of the structural issues? but the topics that were put forth, same old thing. the natural rate of interest, financial prices at zero lower bond, the transition of unconventional monetary policy. global liquidity, cross border cap flows. it seems to me that these are the same old topics, the crisis has come and gone. maybe we need to shake things up a little bit like one of those snow glob
moved behind the scenes to quash the campaign and are insisting that obama not be pressured as he mulls to nominate. >> the president does not like people trashing those he is seriously considering for big jobs. he plainly likes larry summers. there has been a campaign against summers within the senate. you had a significant block of senate democrats who were signing their names to a letter, essentially endorsing yellen. democratic senators have publicly raised questions about whether larry summers would fit in that job. and the president doesn't like being hemmed in. we have seen this at his press conferences. saw it when he went to the hill and talked to democrats and defended pretty forcefully larry summers as somebody who had helped him a good bit, who has a lot to offer. he has been -- summers has been believed to be the front-runner for the job. don't know to what extent that is still the case. but the president doesn't like to be dictated in these sort of scolded his democratic colleagues. >> we have been looking at this, this opposition in the senate and other places that have b
that they've had a difficult time with their reputation for being obstinate as opposed to president obama. their reputation suffered in the 2011 debt crisis. they don't want to go through that again. so that's probably why we will avoid either a government shutdown or a debt default. >> we're back to reading some tea leaves definitely, john, ahead of those midterms. not too far away. thanks so much. our john harwood in washington. interesting point because it relates perfectly to the markets, to the economy, and to what the chairman says every time he's on the hill. >> he often blames congress and the fiscal drag for limiting growth right now in the economy, and what actually happens with the debt ceiling, what actually happens with the continuing resolution, we didn't think it would happen last time. you know, republicans, again, as john harwood just said, they don't want to go through it again, but it is still a significant risk to the economy and it's something the fed is considering as they decide when exactly to begin to pull back their stimulus. they don't want to have a situation w
to stop president obama reform plan. they said they should remember the political backlash the republicans suffered in 1995 and '96 because of the government shutdown. he says he is committed to stopping obamacare. we will be watching retailer aeropostale today. they say it expects another loss for the current quarter. it issals increasing the number of stores that it plans to close. all right. let's get back to the nasdaq. andrew. >> hey, thanks, michelle. i am joined by bob greifeld ceo of nasdaq omx. the man of the moment. we hope we can try to figure out what happened here. obviously, a lot of frustration. i don't need to tell you how much frustration. just explain, if you could, what exactly happened? i think most of us don't understand. >> sure. what happens is that we have a data feed which consolidates the trading for 13 exchanges. we do that for the industry. had a problem. as soon as we saw that had a problem, we had a fundamental concern. we few professional traders had access to individual data feeds, be you the traditional long investor, retail investor didn't have the same in
in a strike. do you think that the obama administration could possibly go it alone? >> i think it is becoming increasingly difficult. the momentum seems to be slowing down. if you remember yesterday we were getting records from u.s. officials saying that the train was out of the station, it was too late to dial back, and it was coming and they were talking about it starting today. i can tell you even here we were beginning to make our plans, how we were going to cover the events if suddenly bombs were falling on dadamascus. now, you have the arab league saying it doesn't support military action. the red cross saying it doesn't support it. egypt saying it wouldn't back a military action. the uk labor party wanting to slow things down and have two votes to authorize military strikes. today the administration is supposed to give a briefing about why it believes that chemical weapons were definitively used by the bashar al-assad regime. the longer this goes on i think the less momentum you're going to have and more doubt injected into the process. >> nbc's richard engel for news turkey this morni
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